Section 1706.7610 | Separate asset series-responsibility to wind up activities after dissolution.
(A) Subject to division (C) of section 1706.769 of the Revised Code, after dissolution of a series, the remaining members associated with the series, if any, and if none, a person appointed by all holders of the membership interest last assigned by the last person to have been a member associated with the series, may wind up the series' activities.
(B) The appropriate tribunal may order supervision of the winding up of a dissolved series, including the appointment of a person to wind up the series' activities for any of the following reasons:
(1) On application of a member associated with the series, if the applicant establishes good cause;
(2) On application of an assignee associated with a series, if both of the following apply:
(a) There are no members associated with the series.
(b) Within a reasonable time following the dissolution a person has not been appointed pursuant to division (A) of this section.
(3) In connection with a proceeding under division (E) of section 1706.768 of the Revised Code.
Available Versions of this Section
- April 12, 2021 – Enacted by Senate Bill 276, 133rd General Assembly [ View April 12, 2021 Version ]